https://www.taxtmi.com/caselaws?id=68500 The Tribunal held that no penalty under section 271(1)(c) was applicable to the assessee due to the final assessed loss, citing precedents from Punjab and Haryana High Court and Madras High Court. Consequently, the penalty of Rs. 1,47,574 was deleted, and the appeal was partly allowed. en-us Thu, 18 Dec 2003 00:00:00 +0530 Tue, 10 May 2011 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68500 The Tribunal held that no penalty under section 271(1)(c) was applicable to the assessee due to the final assessed loss, citing precedents from Punjab and Haryana High Court and Madras High Court. Consequently, the penalty of Rs. 1,47,574 was deleted, and the appeal was partly allowed. Case-Laws Income Tax Thu, 18 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68500